In the financial sector, AI is not only enhancing efficiency and accuracy in tasks like forecasting, resource allocation, and decision-making, but also empowering finance leaders to unlock new insights and opportunities from data.

In light of this current trend, EMEA Recruitment invited a select audience to an exclusive roundtable on Wednesday, the 18th of Septemeber, to unpack the complexities of AI in Finance, with reference to real-world applications.

Designed with the C-Suite Finance audience in mind, the session primarily focused on the ways in which AI can be leveraged to transform the financial planning process and drive success.

Facilitating the conversation alongside the EMEA recruitment team (Hannah Mallia, Georgia Wright, and Tom Hodgett) were two leaders* in Finance. 

Each of our chosen leaders, spearhead the following coversation topics during the deep dive discussion:

• Leader 1: Scoping, stakeholder alignment, skill requirements and avoiding common pitfalls in forecasting projects.
• Leader 2: POC setup, scalability, and domain selection, discussing critical success drivers for revenue & sales, accounting & cashflow, or S&OP/resource planning.

Below is a summary of the key points raised during the exploration:

• Participants emphasised that AI is not just for automation but is increasingly relevant in decision-making. CFOs should integrate AI into financial forecasting and risk management to enable more accurate, less biased predictive models and improved scenario planning.
• The importance of data quality in AI implementation was highlighted, with companies often underestimating the need for clean, well-structured data as the foundation for successful AI systems. CFOs were encouraged to invest in enhancing their data infrastructures before expecting results from AI.
• The need for ethical AI usage in finance was also addressed. As AI becomes more prevalent, ensuring transparency, accountability, and adherence to regulations is critical, especially in sensitive areas such as fraud detection and auditing.
• As routine tasks are automated, CFOs will need to invest in upskilling their teams, focusing on data literacy and strong analytical skills. A successful finance function will require a combination of human skills and AI-driven insights.
• The discussion acknowledged the challenges companies face in adopting AI, such as cost, lack of technical expertise, and resistance to change. However, AI was recognised as a long-term investment that can yield significant returns.

The event also provided an ample opportunity for peer-to-peer networking, which extended throughout the evening.

If you are a C-Suite professional within Finance & Accountancy in the Netherlands and are interested in particiapting in future discussions, please reach out to Director Hannah Mallia who will keep you notified.  

*For confidentiality purposes, we are unable to publically name the chosen individuals.